Cullen Frost Bankers Inc. Buys Shares of 428 ResMed Inc. (NYSE:RMD)

Cullen Frost Bankers Inc. bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, Holdings Channel reports. The fund bought 428 shares of the medical equipment provider’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of ResMed during the 4th quarter valued at approximately $2,972,000. Principal Financial Group Inc. boosted its stake in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Spire Wealth Management grew its holdings in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after acquiring an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RMD. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,186 shares of company stock valued at $4,996,646 over the last quarter. Company insiders own 0.71% of the company’s stock.

ResMed Trading Up 3.3 %

Shares of ResMed stock opened at $232.40 on Monday. The firm has a market cap of $34.13 billion, a PE ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The business’s fifty day moving average is $236.70 and its two-hundred day moving average is $240.04.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.